By Alimat Aliyeva

The South Korean government has announced the allocation of 26
trillion won ($19.1 billion) to support and develop the national
semiconductor industry, Azernews reports.

The country’s president Yun Seok-yel noted that 17 trillion won
(12.5 billion dollars) will be allocated in the form of investments
through the South Korean state Development Bank.

The remaining funds will be allocated in the form of tax
incentives for Korean manufacturers and startups, as well as for
employee training programs and the search for talented youth for
the semiconductor industry in South Korea.

Experts note that the South Korean authorities announced support
measures against the background of increased competition in the
global semiconductor market from Chinese and American
manufacturers, especially against the background of growing demand
for technologies using artificial intelligence. The South Korean
Ministry of Industry hopes that the new support measures will allow
the country to increase its share of the global mobile processor
market from the current 2% to 10%.

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